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Asia Pacific

Global Home > Asia Pacific
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Fitch Revises Outlook on Thailand to Positive; Affirms at 'BBB+'

The Outlook revision on Thailand's IDRs reflects increasing confidence that lingering political risks are unlikely to derail sound macroeconomic management. This is demonstrated by the sustained strength of external and public finances over the past several years, which has resulted in greater resilience to macroeconomic and financial shocks.

Rising Household Debt May Weigh on Medium-Term Chinese Growth

Chinese household debt has continued to rise rapidly, reaching 85% of disposable income at end-2018. Rising debt servicing costs do not pose near-term risks to financial stability, but will weigh on economic growth in the medium term and this is reflected in our latest GDP forecasts. 

Stronger Consumer Brands, Retailers to Outperform in China's Challenging Market

China's retail sales grew 8.4% yoy in 1H19, slowing from 9% for the full year 2018, amid internal and external headwinds. Fitch expects certain segments of the consumer and retail market to show resilience despite the slowdown.

rating action

Fitch Affirms Japan at 'A'; Outlook Stable

Japan's ratings balance the strengths of an advanced and wealthy economy, with high governance standards and strong public institutions, against weak medium-term growth prospects and high public debt. 

rating action

Malaysia Affirmed at 'A-'; Outlook Stable

Malaysia's ratings balance strong and broad-based medium-term growth with a diversified export base, against high public debt and some lagging structural factors, such as weak governance indicators relative to peers. The latter may gradually improve with ongoing government efforts to enhance transparency and address high-profile corruption cases.

2019 Virtual Investor Meetings: Australia Structured Finance

The property market in Australia has always caught investors’ attention. Chris Stankovski, Senior Director, Structured Finance, Australia, shares his views on the market performance, outlook, and how the regulatory landscape for mortgages has changed in Australia.

rating action

Fitch Revises ANZ's Outlook to Negative; Affirms Ratings at 'AA-'

The revision of the rating Outlook to Negative reflects the risk that ANZ's focus on remediating operational and compliance risk issues and culture may result in the diversion of resources from ongoing operations, which could ultimately lead to a weakening of ANZ's earnings relative to peers. 

Factors Driving State Support in Corporate GRE Ratings in Asia

Fitch looks at four key factors to assess the likelihood of a Government-Related Entity receiving support from government, including the strength of linkage factors and incentive to support factors. The 58 rated GREs are from nine countries across industries.

 

Related Press Release and Report:
Factors Driving State Support in Corporate GRE Ratings in Asia
Considerations Behind Fitch's Analytical Approach to Rating Corporate Government-Related Entities (GREs) in Asia

2019 Late Cycle Roundtable - China’s Policy Response and Way Forward

In the second installment of our 2019 Late Cycle Roundtable series, Stephen Schwartz, head of Asia-Pacific Sovereign Ratings, and Andrew Fennell, director and primary China analyst, analyze China’s policy response to its slowed growth environment, its past economic cycle patterns, and other factors that may indicate future credit growth and capital market deepening.

Webinar

Consumer Lending in Vietnam - Does Rising Leverage Add Risks in the Financial System?

Date: July 31, 2019
Time: 15:00 (Hong Kong Time)

 

Please join Fitch Ratings as we discuss the key themes in the recently published report on Consumer Lending in Vietnam and update on Vietnam’s banking sector.

 

Related Reports:
Vietnam Bank Sector More Vulnerable to Shocks as Leverage Rises
Consumer Lending in Vietnam

2019 Virtual Investor Meetings: China Structured Finance

China Securitisation Market has seen phenomenal growth in the past few years. Hilary Tan, Senior Director and Head of Greater China Structured Finance, discusses the developments and key drivers behind the growth.​

rating action

Fitch Assigns Dongxing Securities First-Time 'BBB+' Rating; Outlook Stable

Dongxing Securities is an important subsidiary of China Orient Asset Management Co., Ltd. (China Orient, A/Stable) that provides capital market services to the parent and the parent's corporate customers over the course of distressed asset resolution. The company has been a subsidiary of China Orient since 2008 and is currently 52.74% owned by the group.

APAC Ports' Tight Rating Range Show Qualitative Factors Are Key

The ports in the Asia-Pacific rated by Fitch Ratings carry ratings of either 'BBB-' or 'BBB', but their leverage varies greatly from 2.9x to 10.2x, underscoring the importance of qualitative factors in assigning the ratings.

award

Fitch Wins Best Rating Agency for Emerging Market Bonds at Global Capital Awards

We are pleased to announce we have been voted the Best Rating Agency for Emerging Market Bonds at this year's Global Capital Awards. "Analytical excellence is a core focus at Fitch and this further recognition from global market participants underlines the quality of our emerging market analysis and commentary, as well as our broader market outreach efforts," Brett Hemsley, Global Analytical Head for Fitch Ratings.

Learn more about Fitch and Emerging Markets

Fitch Ratings Voted Best Agency for Chinese USD Bonds in 3 Categories

Fitch Ratings has been voted the "Outstanding Rating Agency for Chinese Companies' USD Bonds" in three categories by users of Wall Street Trader, a financial web application widely used by participants in China's debt capital markets. 

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Fitch Ratings Named Best Islamic Finance Rating Agency for Third Year

Fitch Ratings has been recognised as the Best Rating Agency for Islamic Finance for the third straight year by The Asset, a leading financial magazine in the Asia-Pacific.

China Private Education Blue Book

Revenue growth in China's private education sector, which consists of private schools and private education service providers, is likely to moderate to high-single-digits, from the low-teens.

 

Other Blue Books

You may also access the links below for more In-depth industry and bond market analysis:

Contacts

Sing Chan Ng

APAC

Sing Chan Ng

Business Inquiries

+65 6796 7210

Stephen Schwartz

Sovereigns

Stephen Schwartz

Analytical

+852 2263 9938

Buddhika Piyasena

Corporates

Buddhika Piyasena

Analytical

+65 6796 7223

Jonathan Cornish

Financial Institutions

Jonathan Cornish

Analytical

+852 2263 9901

Terry Gao

International Public Finance

Terry Gao

Analytical

+852 2263 9972

Sajal Kishore

Global Infrastructure Group

Sajal Kishore

Analytical

+65 6796 7095

Jeff Liew

Insurance

Jeff Liew

Analytical

+852 2263 9939

Ben McCarthy

Structured Finance

Ben McCarthy

Analytical

+61 2 8256 0388

Bashar Al Natoor

Islamic Finance

Bashar Al Natoor

Analytical Group Head

+971 4424 1242

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